$CKB Entry Range: $0.0065 - $0.0068Action: Buy 📈SL (Stop Loss): $0.0060TP 1: $0.0072TP 2: $0.0075TP 3: $0.0080
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$CKB 🚨 Note: Trade at your own risk. DYOR.
Analysis and Reasoning for the Trade Setup:
Strong 7.03% Price Increase (1d): The recent uptrend suggests momentum is building, especially with a 347.67% surge in trading volume.
Volume Surge: A significant volume spike is a strong indicator that the price could continue to move upwards as more market participants are engaging with the asset.
Support at $0.0060: The recent low of $0.006145 has shown to hold, providing a strong base for potential gains. A buy position near the support level offers a favorable risk-to-reward ratio.
Price Target Range: With the recent move from the low of $0.006145 to the high of $0.0071, the price could potentially push further towards $0.0075 or even higher, especially if the buying momentum continues.
Reversal Possibility Trade Setup (Bearish Scenario):
If CKB fails to maintain the uptrend and drops below $0.0060, consider a short position:
Entry Range: $0.0058 - $0.0060Action: Sell 📉SL: $0.0065TP 1: $0.0054TP 2: $0.0050TP 3: $0.0045
Reason for Reversal:
Failure to Break Above $0.0071: If CKB struggles to break the recent high, it could indicate exhaustion, and the price might retreat.
Break of Support at $0.0060: A move below this level could signal bearish sentiment, triggering further declines.
Decreasing Volume: If trading volume starts to decline, it could indicate a loss of momentum and the start of a downtrend.
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